Exports rose for the eighth month in a row in November as demand for electronics goods picked up in the run-up to the year-end holiday season. The gain prompted the government to raise its full-year exports growth forecast.
Exports gained 17.1 percent from a year earlier to US$11.9 billion, a Ministry of Finance report showed.
Ministry statistics director Hsu Kuo-Chung (
"Japanese companies are outsourcing more orders and Christmas demand is boosting sales," said Jack Hsieh (謝祖葳), vice president of finance at Premier Image Technology, Taiwan's biggest maker of compact cameras. Sales last month rose 54 percent from a year earlier.
Last month the government raised its full-year economic growth forecast for this year to 3.3 percent from a previous projection of 3.1 percent, as an export-led recovery helps the nation emerge from last year's worst recession on record.
Taiwan Semiconductor Manufacturing last month raised its fourth-quarter shipments forecast, citing a revival in demand for computers and cellphones ahead of Christmas. The company, which makes chips for companies such as Intel and Motorola, said yesterday that last month's sales rose 31 percent from a year ago.
Exports are also getting a lift from the government's move to ease restrictions on investment in China. Companies such as Premier Image and Inventec send parts to China for assembly into compact cameras and computers that are then shipped to the US, Japan and other markets.
Shipments to China surged 151 percent last month from a year earlier to US$1.1 billion. Shipments to Hong Kong rose 19 percent to US$2.8 billion.
Exports to the US rose 13 percent to US$2.4 billion. Sales to Japan rose 3.1 percent, and shipments to Europe fell 6.9 percent.
Overseas sales of electrical products such as mobile-phone components climbed 15 percent last month from a year earlier, yesterday's report showed.
Shipments of computer chips and other electronics, which make up the biggest share of the total, rose 16 percent. Sales of mobile phones and other tele-communications goods gained 6.8 percent.
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